it doesn't quite work that way
let's say $120,800 taxable income all ordinary including $90,000 of qualified dividends
$26, 750 of those qualified dividends will get taxed at 15%
in this oversimplified example, taxable income exceeds qualified dividends by $30,800
this $30,800 reduces the $94,050 threshold to $63,250
the $90,000 of dividends are over this amount by $26,750.
this means that other income can push qualified dividends into a higher bracket.
to correctly see the effect of everything, you may need the desktop app which allows you to do as many what-ifs as you want but warning it's not fully updated for 2024
you might also search the web for a copy of the 2024 qualified dividends and capital gains worksheet
you can also download the 2023 schedule D instructions which contain this 2023 worksheet (2024 has not yet been published)
https://www.irs.gov/pub/irs-pdf/i1040sd.pdf
certain lines would need to be updated to reflect the 2024 limits.
